Thailand’s economy grew faster in the third quarter (Q3) of this year, recording a 4.3 per cent growth compared with 3.8 per cent growth in the previous quarter.

The expansion was supported mainly by acceleration in exports and the continual growth of private consumption, government spending and total investment, the National Economic and Social Development Board (NESDB) announced today.

“In the first nine months of 2017, the Thai economy expanded by 3.8 per cent,” said NEDSB’s Secretary General, Porametee Vimolsiri in a media conference today.

The full-year 2017 economic growth was projected at 3.9 per cent, he added.

Export is expected to expand at 8.6 per cent this year, while private consumption and total investment are projected to grow by 3.2 per cent and 2.0 per cent, respectively.

Porametee said the production of manufacturing, wholesale and retail trade, electricity, gas and water supply as well as fishery sectors all expanded at an accelerated rate in Q3.

The agricultural sector maintained a high growth while the transportation, communication, hotel and restaurant sectors expanded favourably, but the construction sector suffered a decline.

Porametee said for next year, the economy was forecast to register a growth of between 3.6 per cent to 4.6 per cent, supported mainly by favourable growth in global economy, acceleration of public investment and improving private investment while export was expected to grow at 5.0 per cent.–NNN-BERNAMA